Gold rises 3.6% to $4,157 as Middle East tensions boost haven demand

Gold hit $4,156.99 per ounce on COMEX, up 3.63% or $145.67, as escalating Middle East conflict drove safe-haven demand.

"The geopolitical risk premium is back in full force as investors rotate into hard assets because of uncertainty over the scope of the Middle East escalation," said Omar Tariq, a commodities strategist.

The rally pushed gold to a two-week high, with the session gain the largest single-day advance in percentage terms since early June. A week ago, the metal traded at $4,052.55 per ounce. Prices have risen 22.54 percent over the past 12 months from $3,392.25.

Gold remains 24.11 percent below its 52-week high of $5,477.79 set on Jan. 29, 2026, leaving room for further upside if tensions persist. The $4,200 level is the next resistance to watch, traders said.

The rally extended a broader uptrend fueled by central bank buying and persistent inflation concerns. Global central banks added more than 1,000 tonnes of gold to their reserves in 2025, according to the World Gold Council, as institutions sought to diversify away from the dollar amid trade tensions.

The 52-week low of $3,284.65 means gold has rallied 26.56 percent from its trough, showing the metal's resilience as a portfolio hedge. The U.S. dollar index edged lower during the session, providing additional support for bullion by making it cheaper for international buyers.

This article is for informational purposes only and does not constitute investment advice.